2. Intangibles and Goodwill

3 Months Ended

Mar. 31, 2024

Notes

2. Intangibles and Goodwill

2. Intangibles and Goodwill

The Company considers all intangibles to be definite-lived assets with lives of 5 to 10 years. Intangibles consisted of the following at March 31, 2024 and December 31, 2023:

	March 31,	December 31,
	2024	2023
CBDS.com website (Cannabis Sativa)	$13,999	$13,999
Intellectual Property Rights (PrestoCorp)	240,000	240,000
Patents and Trademarks (KPAL)	1,281,411	1,281,411
Total Intangibles	1,535,410	1,535,410
Less: Accumulated Amortization	(1,530,508)	(1,528,151)
Net Intangible Assets	$4,902	$7,259

Amortization expense for the three months ended March 31, 2024 and 2023 was $2,357 and $37,921, respectively.

Amortization of intangibles through 2029 is: 

April 1, 2024 to March 31, 2025	$	932
April 1, 2025 to March 31, 2026		932
April 1, 2026 to March 31, 2027		932
April 1, 2027 to March 31, 2028		932
April 1, 2028 to March 31, 2029		245

Goodwill in the amount of $3,010,202 was recorded as part of the acquisition of PrestoCorp that occurred on August 1, 2017. Cumulative impairment of the PrestoCorp goodwill totals $1,234,391 as of March 31, 2024 and December 31, 2023. The balance of goodwill at March 31, 2024 and December 31, 2023 was $1,775,811.